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Black Creek Group Announces Sale of Industrial Portfolio

DENVER, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Black Creek Group, a Denver, Colorado based real estate investment management firm, announced today that earlier this month DC Industrial Liquidating Trust, a vehicle advised by Black Creek Group, completed the sale of ten industrial properties for an aggregate purchase price of $190,500,000, before giving effect to customary closing adjustments.

The assets were sold to an investment vehicle advised by a Black Creek Group affiliate, capitalized by an institutional investor and Black Creek Group senior management. The sale represents the completion of the disposition of the assets originally assembled under Industrial Income Trust Inc., an entity sponsored by a Black Creek Group affiliate. Together with a merger that closed in November of 2015 and one disposition early this year, last week’s sale represents the disposition of approximately 60.4 million square feet of industrial real estate for aggregate consideration of approximately $4.8 billion. DC Industrial Liquidating Trust has made its final distribution to unitholders this week.

Raj Dhanda, President of Black Creek Group, said, “This sale is a reflection of our team’s continued ability to assemble high quality portfolios of real estate, and where appropriate, execute on successful exit strategies for our investors.”

About Black Creek Group
Black Creek Group is an experienced real estate investment management firm with more than $17 billion of investments over its 25-year history. The company manages diverse investment offerings across the spectrum of commercial real estate – including office, industrial, retail and multifamily – and has a track record of creating long-term value for its investors. The company has nine offices across North America with more than 300 professionals. Black Creek Group offers a range of investment solutions for both institutional and wealth management channels. More information is available at www.blackcreekgroup.com.

For more information:
Contact: Eric Paul
303-226-1482

Source:Black Creek Group, LLC